Mitsui & Co., Ltd. has invested in 22 projects worth approximately $1 billion in Vietnam

Prime Minister Pham Minh Chinh (right) receives Mitsui & Co., Ltd. chairman on September 11 (Photo VNA)

During a meeting with Chairman Tatsuo Yasunaga of Mitsui & Co., Ltd. in Hanoi on September 11, Prime Minister Pham Minh Chinh urged the Japanese company to expedite the Block B gas-electricity project and broaden its cooperation and investment in other sectors in Vietnam, particularly in offshore wind energy development, reported the Government News.

The Prime Minister commended Mitsui & Co. for its effective investment projects in Vietnam, emphasizing their significant contributions to the country’s socio-economic development and the strengthening of bilateral relations between Vietnam and Japan.

He reaffirmed the Vietnamese Government’s commitment to fostering a supportive environment for Japanese businesses, especially Mitsui & Co., to engage in effective and sustainable investment and business activities in Vietnam. He underscored the principles of “harmonizing interests and sharing risks” and “working together, winning together, and benefiting together.”

Mr. Yasunaga, representing Mitsui & Co., Ltd., a major multi-industry investment, business, and trading conglomerate from Japan, highlighted that the company has invested in 22 projects worth approximately $1 billion in Vietnam. These investments span various sectors, including mineral resources, energy, equipment, and textiles, with the Block B gas-electricity project alone accounting for over $700 million.

He expressed his hope for continued attention and guidance from Prime Minister Chinh for the project. Additionally, he sought support for expanding Mitsui’s investments into other areas in Vietnam, such as farming, processing and exporting aquatic products, pelletized wood production and export, as well as human resources training and labor cooperation.

PM Chinh appreciated Mitsui’s efforts and those of its joint venture partners in implementing the gas-electricity project, emphasizing its significance to Vietnam’s socio-economic development goals.

He committed to supporting Mitsui in successfully collaborating and investing in the project, suggesting that Mitsui work with the Vietnam Oil and Gas Group to expedite the project’s implementation, aiming to extract the first gas streams by December 31, 2025.

He also expressed his hope that Mitsui would collaborate with Vietnamese partners in producing wind turbines and implementing offshore wind projects.

The PM warmly welcomed Mitsui to expand its investment in Vietnam. Specifically, he asked the firm to invest in building a feed mill, broaden its business activities in Vietnam in sectors of its strength, collaborate, support, and transfer technology and management experience with Vietnamese partners to help them become more deeply involved in regional and global supply chains.

He also urged the firm to support attracting investment in energy transition in Vietnam; increase scholarships and partner with educational institutions to train high-quality human resources for Vietnam.

Pham Long (Source: en.vnconomy.vn)